Statistics Canada is set to report fresh inflation figures for August this morning.
A poll of economists expects the annual rate of inflation was three per cent last month, holding steady from July, according to LSEG Data & Analytics.
RBC economists say Canada has seen inflationary pressure coming mainly from higher energy prices, which are up around 23 per cent from a year ago, though there was slight relief at the pumps last month compared with earlier this summer.
Crude prices in recent days have hovered around US$100 per barrel as the war in Iran ratchets up.
The August inflation figures come after the Bank of Canada left its key policy rate unchanged at 2.25 per cent earlier this month.
The central bank has held its policy rate steady in seven consecutive decisions as it tries to balance volatile global energy prices and US tariffs hampering the economy.
This report by The Canadian Press was first published Sept. 14, 2026.
